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Rusty Wallace Racing owed more than $500K by former sponsor

NNSracing.com

The Rusty Wallace Racing NASCAR Nationwide Series team is owed more than a half-million dollars by former sponsor US Fidelis, according to bankruptcy filings.

US Fidelis, an extended auto service contract company, filed for Chapter 11 in U.S. bankruptcy court in St. Louis in records dated March 1. The company has liabilities totaling $25.8 million while holding $74.4 million in assets.

But nearly 90 percent of the assets are debts owed to the firm by the two brothers and affiliated real estate companies, according to the St. Louis Post-Dispatch.

RWR is listed as one of 20 creditors holding the largest unsecured claims, as US Fidelis says it owes the race team $535,439.18.